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If you have any problems with your access or would like to request an individual access account please contact our customer service team. The beta test started at the end of September, with a full launch aimed for the end of this month, said Phillip Brittan, New York-based global head of the FX business at Bloomberg Financial Terminal.
However, market participants questioned the level of demand the platform would attract. One forex options head at a major US bank said larger banks would be unlikely to want to use it, as they are trying to put more business through their single-bank platforms. He said dealers trying to build up their options business on single-bank platforms are likely to continue focusing efforts there rather than onto another platform. However, he added that the platform would appeal to second-tier banks, as it provides an economic way to offer electronic options trading.
Over the past few months it has added a number of tools to its multi-leg structuring and pricing function, OVML. This includes structuring and pricing for barrier options and enabling mix-and-match of barriers with vanillas, as of September.
The multi-leg structures can be saved on Bloomberg and recalled for revaluation later. The company also added a classical scenario analysis tool, where sensitivity analysis can be run on the multi-leg option strategy, which was introduced in July.
So you have front-office people and mid-office people pulling up options and revaluing them," said Brittan. While one bank is taking part in the beta test, Brittan said several banks have committed to coming on the platform and are at varying stages of integration. This latest move by Bloomberg follows the launch of its buy-side initiative, Bloomberg FX Streaming, its e-commerce platform for streaming executable prices, earlier this year.
The platform most recently added Citigroup as a liquidity provider. Over the next two quarters it plans to have a further 12 banks offering streaming prices. Brittan noted the volumes on the system have more than tripled over the past five months. The future of the global fixed-income marketplace 24 Oct Tradeweb video series part I: A look back at the past two decades 16 Oct Rethinking risk management in the age of cognitive computing 13 Jul ETRM systems edge into cloud, but caution urged 06 Apr Survey: CTRM system upgrades fail to impress 21 Mar Energy firms increase use of trade surveillance technology 13 Mar Fintech and wholesale banking: You need to sign in to use this feature.
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Saima Farooqi 14 Oct Tweet. The ever-widening world of regtech 27 Oct Tradeweb video series part II: The future of the global fixed-income marketplace 24 Oct Tradeweb video series part I: A look back at the past two decades 16 Oct Rethinking risk management in the age of cognitive computing 13 Jul ETRM systems edge into cloud, but caution urged 06 Apr CTRM system upgrades fail to impress 21 Mar Energy firms increase use of trade surveillance technology 13 Mar Fintech and wholesale banking: You are currently on corporate access.
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